‘Dogecoin Killer’ Shiba Inu Burn Rate Spikes 300% As 300M SHIB Permanently Destroyed In A Single Day

Shiba Inu’s (SHIB) burn rate is on fire; over 300% increase within the past 24 hours and more than 12 million SHIB tokens systemically withdrawn has caused a stir of enthusiasm spewing from the SHIB Army.

This recent transaction has been an indication of SHIB’s growth, folding into its performance over the past year with an impressive 33% positive trend throughout 2023. However, data from Shibburn reveals that despite isolated significant activity in December where an estimated 225 million SHIB tokens were removed from circulation, an overall yearly total of 76.4 billion SHIB tokens were burned in 2023, 8.33% lower than births recorded the prior year.

According to official records from Shibariumscan – a tracker used to facilitate transaction along the Shibarium, users are interacting with the network more frequently –throttling 4.91 million daily transactions with above 1.3 million unique wallet addresses.

Price-wise, SHIB may seen to be wallowing up downwards now, at the time of writing resting at $0.000010 – a deflation of 1.3%, per Benzinga Pro conclusion. However, more important currency – even a single penny – is sometimes at work than just money; and while speculative, SHIB Olympian potential may well capitalize on, & make a lucky user a $1Million payday cash & instant cheers.

Robert Wilson author
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